CVS Health Corporation (CVS) Given Hold Rating at Needham & Company LLC
CVS Health Corporation (NYSE:CVS)‘s stock had its “hold” rating restated by equities researchers at Needham & Company LLC in a research note issued on Thursday.
Other equities research analysts have also issued reports about the company. BidaskClub raised CVS Health Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Citigroup Inc. reduced their target price on CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating for the company in a report on Thursday, August 17th. Royal Bank Of Canada assumed coverage on CVS Health Corporation in a report on Tuesday, September 19th. They issued an “outperform” rating and a $95.00 target price for the company. Jefferies Group LLC increased their target price on CVS Health Corporation from $82.00 to $86.00 and gave the company a “hold” rating in a report on Friday, September 15th. Finally, Wolfe Research lowered CVS Health Corporation from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $89.00 to $82.00 in a report on Monday, August 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $89.93.
CVS Health Corporation (NYSE:CVS) last released its quarterly earnings data on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.02. The business had revenue of $45.69 billion during the quarter, compared to analyst estimates of $45.36 billion. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company posted $1.32 EPS.
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In other CVS Health Corporation news, CFO David M. Denton sold 237,078 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $79.65, for a total transaction of $18,883,262.70. Following the transaction, the chief financial officer now directly owns 141,096 shares in the company, valued at $11,238,296.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Jonathan C. Roberts sold 85,743 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $83.14, for a total value of $7,128,673.02. Following the transaction, the chief operating officer now owns 119,555 shares in the company, valued at $9,939,802.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 716,625 shares of company stock worth $58,318,431. Corporate insiders own 0.61% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in CVS Health Corporation by 1.4% during the second quarter. Vanguard Group Inc. now owns 76,557,597 shares of the pharmacy operator’s stock valued at $6,159,825,000 after buying an additional 1,056,265 shares in the last quarter. FMR LLC raised its holdings in CVS Health Corporation by 22.0% during the second quarter. FMR LLC now owns 30,150,634 shares of the pharmacy operator’s stock valued at $2,425,920,000 after buying an additional 5,446,930 shares in the last quarter. Bank of America Corp DE raised its holdings in CVS Health Corporation by 1.8% during the first quarter. Bank of America Corp DE now owns 22,411,957 shares of the pharmacy operator’s stock valued at $1,759,338,000 after buying an additional 398,999 shares in the last quarter. Northern Trust Corp raised its holdings in CVS Health Corporation by 5.5% during the second quarter. Northern Trust Corp now owns 15,618,081 shares of the pharmacy operator’s stock valued at $1,256,631,000 after buying an additional 807,639 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in CVS Health Corporation by 8.4% during the second quarter. Nordea Investment Management AB now owns 14,154,922 shares of the pharmacy operator’s stock valued at $1,138,905,000 after buying an additional 1,100,373 shares in the last quarter. Institutional investors own 81.51% of the company’s stock.
CVS Health Corporation Company Profile
CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.
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